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Daily, the number of liquidations has surpassed $200 million, as the whole market is once again in the negative.

Bitcoin’s failure at $32,000 dragged other altcoins down with it, causing another market-wide downturn. As a result, the number of liquidated dealers increased dramatically.

The cryptocurrency market had a really good day yesterday, with bitcoin leading the way after a jump to around $32,000. Altcoins also saw significant gains, with Solana and Cardano leading the way.

However, as has been the case multiple times in recent weeks, it turned out to be a false breakout. Instead of continuing north, BTC plunged by over $3,000 in just hours, reaching a low of $29,000.

SOL, BNB, ADA, AVAX, and many other cryptocurrencies have all lost double-digit percentages in a single day.

The total market capitalization of all crypto assets has dropped by $90 billion in a day to just over $1.2 trillion.

According to Coinglass, this increased volatility has liquidated around 80,000 traders in the last 24 hours. The entire cost of the ruined positions exceeds $200 million.

Cryptocurrency Market Overview. Source: Quantify Crypto
Source: Quantify Crypto
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